JPMorgan Chase & Co. increased its position in Pluralsight Inc (NASDAQ:PS) by 152.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 2,720,788 shares of the company’s stock after buying an additional 1,642,071 shares during the period. JPMorgan Chase & Co.’s holdings in Pluralsight were worth $86,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bank of Montreal Can increased its holdings in shares of Pluralsight by 15.8% during the 4th quarter. Bank of Montreal Can now owns 5,821 shares of the company’s stock worth $137,000 after purchasing an additional 793 shares during the period. Pendal Group Ltd increased its holdings in shares of Pluralsight by 8.0% during the 1st quarter. Pendal Group Ltd now owns 12,586 shares of the company’s stock worth $399,000 after purchasing an additional 929 shares during the period. Parallel Advisors LLC bought a new position in shares of Pluralsight during the 1st quarter worth about $33,000. Daiwa Securities Group Inc. bought a new position in shares of Pluralsight during the 1st quarter worth about $33,000. Finally, Tompkins Financial Corp bought a new position in shares of Pluralsight during the 1st quarter worth about $37,000. Hedge funds and other institutional investors own 66.38% of the company’s stock.
PS has been the topic of several research reports. Bank of America boosted their price objective on shares of Pluralsight from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, February 14th. Needham & Company LLC restated a “buy” rating and set a $42.00 price objective (up previously from $38.00) on shares of Pluralsight in a report on Thursday, May 2nd. Zacks Investment Research downgraded shares of Pluralsight from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Finally, Citigroup initiated coverage on shares of Pluralsight in a report on Tuesday, May 14th. They set a “buy” rating and a $42.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $36.34.
In other Pluralsight news, CFO James Budge sold 1,823 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $33.34, for a total value of $60,778.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nate Walkingshaw sold 3,852 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $33.21, for a total transaction of $127,924.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,778,674 shares of company stock worth $249,921,156. 23.19% of the stock is owned by company insiders.
Shares of Pluralsight stock opened at $33.23 on Friday. The company has a current ratio of 3.79, a quick ratio of 3.79 and a debt-to-equity ratio of 1.68. Pluralsight Inc has a twelve month low of $17.88 and a twelve month high of $38.37. The stock has a market cap of $4.60 billion and a PE ratio of -22.76.
Pluralsight (NASDAQ:PS) last issued its earnings results on Wednesday, May 1st. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.02. Pluralsight had a negative net margin of 31.50% and a negative return on equity of 51.53%. The business had revenue of $69.60 million for the quarter, compared to analyst estimates of $68.31 million. Pluralsight’s revenue for the quarter was up 40.2% on a year-over-year basis. Research analysts forecast that Pluralsight Inc will post -0.98 earnings per share for the current year.
Pluralsight Company Profile
Pluralsight, Inc provides a technology skill development solutions worldwide. Its cloud-based technology skills platform offers a range of tools, including skill and role assessment tool, which uses machine learning and advanced algorithms to measure a user's skills, benchmark that user against others in the industry, and recommend opportunities for growth; and Course Library that include a digital ecosystem of thousands of on-demand courses across a range of technology subject areas, such as cloud, mobile, security, IT, and data.
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